Hi,
My first post so please be gentle.
I'm very new to this and looking at switching from Arbs to trading on Betfair.
I'm starting out mainly focusing on horse racing and then expanding my knowledge into other markets.
First question I have is why do we reverse the book on Bet angel?
And what is the difference between tick size and liability?
Many Thanks
Craig
Beginner. Confused .com Many questions. ;-)
The book is reversed to make it more intuitive to request a price rather than just take what is on offer.
The tick size is the step size between prices on the Betfair exchange. This can vary.
For example, 1.01 to 1.02 has a tick size of 0.01. However, when you get up to 10 the next price is 10.5. The tick size is now 0.5.
Liability is your risk. So if you place a back bet using £10 stake your liability is £10. If you place a lay bet using £10 stakes your liability is a function of the price. For example, if the lay price is 5.0 your liability is 4 x £10 = £40.
The tick size is the step size between prices on the Betfair exchange. This can vary.
For example, 1.01 to 1.02 has a tick size of 0.01. However, when you get up to 10 the next price is 10.5. The tick size is now 0.5.
Liability is your risk. So if you place a back bet using £10 stake your liability is £10. If you place a lay bet using £10 stakes your liability is a function of the price. For example, if the lay price is 5.0 your liability is 4 x £10 = £40.